Nickel futures down on profit booking

Nickel futures prices fell by 0.48 per cent to Rs 1,098.10 per kg today, amid profit booking by speculators.

At the Multi Commodity Exchange counter, nickel prices for delivery in January fell by Rs 5.30, or 0.48 per cent, to Rs 1,098.10 per kg, with a trade volume of 2,531 lots.

Similarly, the metal for delivery in February declined by Rs 5.20, or 0.47 per cent, to Rs 1,108.40 per kg, with a trade volume of just 2,531 lots.

Analysts said besides profit booking by speculators, weak trend at the domestic spot markets due to sluggish demand, led to a fall in nickel futures prices.